Dáil Éireann Debate, Tuesday - 2 February 2016
552. Deputy Michael McGrath asked the Minister for the Environment, Community and Local Government the number of properties which have been successfully purchased through the national mortgage to rent scheme since its launch in 2012 by county, in tabular form; if he will reform the scheme; and if he will make a statement on the matter. [4454/16]
View answerBy the end of December 2015 a total of 147 cases had been completed under the Mortgage to Rent Scheme since its commencement. In addition, 619 cases were actively being progressed. A breakdown of this information on a county basis is provided in tabular form below.
In July 2015, the Government announced changes to the mortgage to rent scheme as part of a broader package of measures to deal with mortgage arrears. The changes were made in order to make the scheme more flexible and accessible and are designed to enable more properties to qualify for the scheme.
Amendments include:
- The valuation threshold for properties has been increased and will be reviewed on a regular basis.
- Flexibility has also been provided in relation to the size of properties which qualify for the scheme.
- Eligibility criteria for the borrower remains the same - however, a borrower who has completed the Mortgage Arrears Resolution Process (MARPS) and is applying for mortgage to rent will have their eligibility for social housing support assessed without delay.
- As a general rule the criterion of the borrower being in negative equity remains – however, some flexibility has been provided, on a case by case basis, to allow for a borrower who is in marginal positive equity to avail of the scheme.
- Greater funding is being made available to support the Scheme. The funding ceiling under the Capital Advance Leasing Facility (CALF) has increased from 30% to 40% for mortgage-to-rent cases only.
Progress under the scheme will continue to be monitored and every opportunity will be taken to ensure the Scheme operates to its full potential.
Breakdown of Completed and Active MTR Cases at end December 2015 by local authority:
|
County |
Actively Being Progressed |
Complete |
|
Carlow County Council |
17 |
5 |
|
Cavan County Council |
18 |
3 |
|
Clare County Council |
3 |
3 |
|
Cork City Council |
20 |
4 |
|
Cork County Council |
34 |
3 |
|
Donegal County Council |
3 |
0 |
|
Dublin City Council |
64 |
23 |
|
Dún Laoghaire/Rathdown County Council |
4 |
1 |
|
Fingal County Council |
47 |
12 |
|
Galway City Council |
4 |
1 |
|
Galway County Council |
12 |
1 |
|
Kerry County Council |
8 |
2 |
|
Kildare County Council |
54 |
8 |
|
Kilkenny County Council |
10 |
5 |
|
Laois County Council |
25 |
2 |
|
Leitrim County Council |
1 |
1 |
|
Limerick City and County Council |
15 |
6 |
|
Longford County Council |
1 |
1 |
|
Louth County Council |
37 |
15 |
|
Mayo County Council |
1 |
0 |
|
Meath County Council |
62 |
14 |
|
Monaghan County Council |
6 |
0 |
|
Offaly County Council |
23 |
4 |
|
Roscommon County Council |
3 |
0 |
|
Sligo County Council |
0 |
0 |
|
South Dublin County Council |
42 |
10 |
|
Tipperary County Council |
21 |
6 |
|
Waterford County Council |
35 |
9 |
|
Westmeath County Council |
11 |
2 |
|
Wexford County Council |
23 |
2 |
|
Wicklow County Council |
15 |
4 |
|
619 |
147 |
